Arizona § 20-1096.08 Nonrenewal, revocation or suspension of certificate of authority

Arizona Statutes

§ 20-1096.08 — Nonrenewal, revocation or suspension of certificate of authority

Arizona § 20-1096.08

Title 20Arizona Revised Statutes

Ch. 4PARTICULAR TYPES OF INSURERS

Art. 12Mechanical Reimbursement Reinsurers

This text of Arizona § 20-1096.08 (Nonrenewal, revocation or suspension of certificate of authority) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 20-1096.08 (2026).

Text

The director may refuse to renew or may revoke or suspend any certificate of authority issued to a mechanical reimbursement reinsurer pursuant to this article if, after notice and a hearing, the director finds any of the following:

1.In the opinion of the director the policy and loss reserves maintained by the mechanical reimbursement reinsurer are insufficient to cover future losses.

2.In the opinion of the director, the mechanical reimbursement reinsurer is insolvent.

3.The mechanical reimbursement reinsurer has not filed its annual report or paid its renewal fee on a timely basis.

4.The mechanical reimbursement reinsurer has violated any provisions of this article.

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The director may refuse to renew or may revoke or suspend any certificate of authority issued to a mechanical reimbursement reinsurer pursuant to this article if, after notice and a hearing, the director finds any of the following:

1. In the opinion of the director the policy and loss reserves maintained by the mechanical reimbursement reinsurer are insufficient to cover future losses.

2. In the opinion of the director, the mechanical reimbursement reinsurer is insolvent.

3. The mechanical reimbursement reinsurer has not filed its annual report or paid its renewal fee on a timely basis.

4. The mechanical reimbursement reinsurer has violated any provisions of this article.